Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.
Interpretation
Investing in quality items at a discounted price is a smart financial strategy.
Warren Buffett, known for his investment wisdom, suggests that whether purchasing something trivial like socks or significant like stocks, the principle remains the same: it is wise to seek high-quality products that are available at a lower price. This reflects a broader lesson in personal finance where quality and value should drive purchasing decisions, rather than superficial aspects.
In practice
This quote could be used in a financial literacy workshop to emphasize the importance of investing wisely.
I have no views as to where it will be, but the one thing I can tell you is it won't do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money and there will be a lot - and it's a lot - it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.
If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?
Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
I think you should read everything you can. In my case, by the age of 10, I'd read every book in the Omaha public library about investing, some twice. _x000D_ You need to fill your mind with various competing thoughts and decide which make sense.
The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.
He who by an exertion of mind or body, adds to the aggregate of enjoyable wealth, increases the sum of human knowledge, or gives to human life higher elevation or greater fullness - he is, in the larger meaning of the words, a " producer," a " working man," a " laborer," and is honestly earning honest wages.
One minute I'm robbing a dope house. Next minute I'm the youngest heavyweight champion of the world. I'm only 20, 19, with a lot of money. Who am I? What am I? I don't even know who I am. I'm just a dumb child who's being abused and robbed by lawyers. I'm just a dumb pugnacious fool. I'm just a fool who thinks he's someone. Then you tell me I should be responsible.
When I won in 2003, never in my wildest dreams did I ever think I would win Wimbledon and have my kids seeing me lift the trophy, so this is pretty surreal. And yeah, I was almost shocked in the moment that it all came together so nicely.
My ambition was to become the best climber and I never did. I think that goal was a wrong goal. A better one is to put more emphasis on enjoyment and on getting a rounded experience and on things like friendship, rather than on sheer achievement.
You've achieved success in your field when you don't know whether what you're doing is work or play.
Greatness comes by doing a few small and smart things each and every day. Comes from taking little steps, consistently. Comes from a making a few small chips against everything in your professional and personal life that is ordinary, so that a day eventually arrives when all that's left is The Extraordinary.
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